Please complete by 5:00 p.m. CST on October 5, 2022


We will only restrict credit union activities by creating and enforcing regulations and guidelines that will allow credit unions to take prudent risks during the course of their business.

We regulate with an emphasis on preventing the need for payouts to depositors.

We will maintain the guarantee fund at a level sufficient to instill confidence in credit union depositors and other stakeholders.

We avoid actions that would damage the Corporation’s or credit union system’s reputation in the eyes of our stakeholders.

We maintain our operations at a level that supports our mandate. We will spend what is needed, but only what is needed, to acquire the capacity to regulate prudently.
Credit Union Deposit Guarantee Corporation (the Corporation or CUDGC) is looking for directors who actively want to contribute to the regulation of Saskatchewan credit unions and the ongoing success of the Corporation.

Credit Union Deposit Guarantee Corporation is the primary regulator for Provincially Regulated Financial Institutions (PRFIs). In fulfilling its mandate, the Corporation promotes responsible governance and instills confidence in the credit union system. CUDGC is also the primary regulator of Credit Union Central of Saskatchewan.

On behalf of the board of directors and the selection committee for the board, thank you for expressing your interest by putting your name forward as a candidate to be a director on our board.

The board is comprised of individuals with financial acumen, industry experience and professional qualifications to ensure breadth of knowledge, independence and a diversity of perspective and experience.

If you believe that your values, competencies, skills and experience will complement our board, please complete the required candidate package and submit it to the Corporation. Selection packages will be accepted until 5:00 p.m. CST on October 5, 2022. A complete package consists of the following:
• Resume and Cover Letter
• Conflict of Interest Disclosure Statement
• Director Candidate Guide

For questions regarding the Corporation’s board or for any questions regarding the application process, contact Deanna Bergbusch, Vice-President Corporate Operations at 306-529-5684 or via email or Brent Schellenberg, CEO at 306-537-0443 or via email at

To learn more about the Corporation refer to our website:
Established in 1953, Credit Union Deposit Guarantee Corporation (the Corporation) guarantees the full repayment of deposits held in Saskatchewan credit unions. The Corporation was the first deposit guarantor in Canada and has successfully guaranteed deposits since it was established.

Credit Union Deposit Guarantee Corporation (the Corporation) is the deposit guarantor for Saskatchewan credit unions, and the primary regulator for credit unions and Credit Union Central of Saskatchewan (SaskCentral) (together, Provincially Regulated Financial Institutions or “PRFIs”). The Corporation instills confidence in the province’s credit union system with a mandate of:
  • guaranteeing the repayment of deposits in Saskatchewan credit unions
  • establishing regulatory standards and ensuring PRFIs are performing to those standards
  • promoting responsible governance by PRFIs, and contributing to the strength and stability of the credit union system
  • directing PRFIs to take action on material deficiencies, and any issue that may put depositors’ funds at risk and;
  • maintaining and managing a guarantee fund in a sound and prudent manner
Values guide individual and organizational behaviour. The Corporation’s values are reflected in its Code of Conduct which provides a common frame of reference for staff, management and the board in fulfilling the Corporation’s mission and strategic focus.

Co-operation: As part of the co-operative financial services system, we respect co- operative principles and support credit unions and SaskCentral in enhancing their strength and development by working together.

Honesty and Integrity: We perform our duties conscientiously with the highest level of honesty and professional integrity.

Fairness: We approach issues and decisions with common sense, sound judgment, fairness and consistency.

Responsible Regulation: We act to protect the rights and interests of Saskatchewan depositors. We strike an appropriate regulatory balance that effectively protects depositors without unduly impairing credit unions’ ability to compete in the market.

Leadership: We use our knowledge of the credit union system and the financial services industry to anticipate future trends and proactively respond to our environment. We demonstrate leadership provincially and nationally by advocating positive change that contributes to the strength and stability of the credit union system and its provincial central.

Teamwork and Respect: We work as a team to achieve goals and progress towards our common vision. We recognize that people are the key to success. We consistently treat people with dignity, respect, fairness and the highest standards of ethics. We demonstrate co-operation when working with others, encouraging questions that generate innovative ideas and creative solutions.

To ensure effective regulation of the Saskatchewan credit union system by continuing to adhere to national and international best practices. To promote and lead discussions with our stakeholders regarding emerging issues and the changing environment. The Corporation will continue to be flexible and adaptive.
Our principles provide direction on how to carry out the Corporation’s roles and responsibilities. They are what make us unique. These philosophical insights have contributed to the Corporation’s notable success throughout its history and provide guidance in shaping the Corporation’s future.

Effective Regulation
As the primary prudential and solvency regulator, we support and encourage a successful credit union system by working with stakeholders to balance prudential regulation with market forces.

We recognize the need for credit unions to evolve in the marketplace and we support a strong and prosperous credit union system by:
  • focusing on the future of the financial services industry
  • striving to implement industry best practices where it is reasonable to do so
  • developing flexible and enabling approaches to effective and efficient regulation
Our role is to regulate, not to manage. Our actions demonstrate our preference to prescribe rather than restrict, and demonstrate our respect for a credit union’s right to determine its own destiny.

We believe that effective deposit protection is accomplished through investments in prevention including:
  • analyzing credit union performance on an ongoing basis to ensure early identification of potential risks
  • communicating our expectations
  • sponsoring and promoting programs that strengthen the knowledge and skills of credit union decision makers
Authority, Responsibility and Accountability

  • We clearly communicate to all stakeholders our authority to take action to protect deposits. The Corporation has the authority to act to fulfill its deposit protection responsibilities in the best interests of the credit union system.
  • We exercise great care and judgment in carrying out the authority that has been granted to us.
  • We are responsible to act when others are either unwilling or unable to take action on matters concerning credit union and system solvency and the safety of deposits.
  • We demonstrate accountability through fiscal responsibility.
  • We pursue economical business solutions to protect deposits and minimize costs to the credit union system.
  • Our operating methods demonstrate effective and efficient use of system resources.

Objectivity and Independence
Our actions are free of influence, interest or relationship that would impair professional judgement or objectivity.

We act independently and in the best interests of the Corporation to protect depositors’ funds.

We carry out our responsibilities fairly and consistently, basing decisions on careful analysis of facts.

We communicate openly with all stakeholders.

We respect our stakeholders’ rights to privacy and confidentiality of information.

We value the opinions and ideas of our stakeholders and take care to ensure that we consult with them on matters that affect them.

Collaborative Relationships
Through constructive relationships with our stakeholders, we create opportunities to enhance the overall quality and effectiveness of our results.

We believe that the best solutions are arrived at by working with others to build common understanding and to identify and achieve common goals.